There are several theories as to why the price of Bitcoin is plummeting today. Some believe it is because of new regulations that will be put in place, panic selling as we slowly descended back to 10k, and/or the banning of all ICO and Bitcoin related advertisements on Facebook and Instagram to "protect their users". I personally believe the last is the most worrisome.
In a world where about two-thirds of American adults are getting “at least some of their news on social media” with two-in-ten doing so often, Facebook's agenda to censor cryptocurrency is a very dangerous signal. A signal that has caused the price of Bitcoin to fall so drastically in these last few hours.
Surprisingly, Zuckerberg was actually optimistic about blockchain technologies and claimed he was “ interested to go deeper and study the positive and negative aspects of these technologies…”. From his studies he must have noticed the high volume of ICO's and wanted to safeguard his users from getting caught up with 'fraudulent' Cryptocurrencies. Although Zuckerberg may still be optimistic about blockchain, his actions indicate that he prefers the satisfaction of his users over the advancement of Cryptocurrency.
Personally, I believe that Zuckerberg absolutely has the right to censor whatever he would like on his platform, but there should always be an alternative if someone does not agree with this sentiment. The world may be black and white on Facebook, but on Steemit the world is a more colorful and adventurous place. Yes, most ICO's are probably not going to give you large returns, but some do. Yes, most Cryptocurrencies are not sustainable, but some are. This freedom of choice to read and interact with whatever you'd like is unique to decentralized social networks and I am glad to be on one!
Let me know what you think!
http://www.journalism.org/2017/09/07/news-use-across-social-media-platforms-2017/
https://futurism.com/mark-zuckerberg-officially-considering-cryptocurrency-facebook/